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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: trouthead who wrote (6056)	1/22/1999 7:54:00 AM
From: Anaxagoras	Respond to of 8307

A couple thoughts as we get ready to dip our toes into the lake this morning- is the water frigid or warm? What I'm hoping for this morning ("You're what??!!! You're 'hoping'? Do you think stocks give a crap about your 'hoping'? If you're hoping, get out!") is a fairly quiet opening for the internuts. I don't know if we'll get it (watch EBAY with the lock-up expiration), but if we do I would think recovery is in order. If we have another down day today, I wouldn't want to be there Monday morning after the weekend. Why the recovery? Well, there was a lot of gloom out there with Barton Biggs running around all day talking about the bubble bursting. And I came across this passage from TSC (get a subscription- it's worth it): <<Bianco Research weighed in on cyberspace stocks. In a note today, at 97 (the stock has since hit an intraday low of 92 9/16 today) Amazon.com was 47.5% off its all-time high close of 184.625 set on Jan. 11, pointing out that the stock has never had a percentage correction that big before. At 250 (today's intraday low), Yahoo! (YHOO:Nasdaq) is 39% off its all-time high close of 414.50 set on Jan. 11. The note said the last time Yahoo! had a larger percentage correction was in 1996, and that was when it was trading under $8. The note concluded: "Given the size of the corrections in these two darlings of the Internet stock craze, it is now fair to ask whether these shooters are being 'benched' by the market. If these shooters are being benched, then is the whole game (stock market) at risk? From a practical standpoint, it is impossible to pick highs on these kind of parabolic moves. But, given the corrections so far, it is a good time to start asking the question." So we have a lot of gloom. OTOH, we had great earnings reports from tech yesterday with IBM, Sun, BMC.... Tech kicks butt. I'll forgive ya, EGGS, if ya come back a bit today. Come on, give me a reason to kiss and make-up, and not drop ya like a bad penny. Anaxagoras